Argentinahttp://www.ekklesia.co.uk/taxonomy/term/7919/all
enMinefield: Watching enemies become human at the Royal Courthttp://www.ekklesia.co.uk/node/23154
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<h1 class="title">Minefield: Watching enemies become human at the Royal Court</h1>
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<p><a href="http://www.ekklesia.co.uk/node/23154" target="_blank">read more</a></p>Peace and NonviolenceArgentinafalklandstheatreBlogFri, 10 Jun 2016 10:59:00 +0000Symon Hill23154 at http://www.ekklesia.co.ukRisk of new Argentinian debt default after vulture fund verdicthttp://www.ekklesia.co.uk/node/20603
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<p>The United States Supreme Court has decided not to hear Argentina’s appeal against a $1.3 billion award to two US-based vulture funds.</p>
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<p>The United States Supreme Court has decided not to hear Argentina’s appeal against a $1.3 billion award to two US-based vulture funds.</p>
<p>Argentina’s next payment on its restructured bonds is due on 30 June. The Supreme Court decisicion was handed down on 16 June, giving the country two weeks to decide whether to make payments to the vulture funds at the same time, as ordered by US courts, or halt payments on all its debts. Last month, a leaked memo from Argentina’s lawyers indicated that the country’s best option in the event of an appeal loss would be to default on its restructured bonds and re-route them beyond the reach of US courts. </p>
<p>The restructured bonds are held by the more than 90 per cent of Argentina’s private sector creditors who agreed to take losses after the country's 2001 default. Thousands of campaigners have supported calls from social movements in Argentina for a public audit of the debts, many of which date back to the country’sl military junta under whose rule 30,000 people were ‘disappeared’ and widespread abuses of human rights were committed.</p>
<p>Sarah-Jayne Clifton, Director of the Jubilee Debt Campaign, said:<br />
“The Supreme Court’s decision places profits for financial speculators ahead of justice and risks forcing Argentina into a second debt crisis. The vulture funds never lent Argentina any money, they just speculated on its debt when the country was on its knees and they’re now seeking profits of over 1,000 per cent.”</p>
<p>“The decision confirms that the system for dealing with sovereign debts is fatally flawed – a system where irresponsible lenders are now actively discouraged from taking losses when a debt burden becomes unsustainable. If Argentina now chooses to default rather than cave in to extortion, as any democratic nation is fully justified in doing, people of conscience around the world will support them.”</p>
<p>She concluded: “This decision could also have major implications for other heavily indebted countries like Greece, Ireland and Jamaica. It points to the urgent need for a fair and transparent workout mechanism for international debt, as well as for countries like the US and UK to bring forward legislation to stop predatory vulture funds profiteering from the misery of countries in debt crisis.”</p>
<p>Last month, over 100 British MPs signed an Early Day Motion supporting action to prevent vulture funds profiteering from Argentina and forcing the country into default. The motion, signed by 106 MPs, “notes that vulture funds are trying to force Argentina to default on its debt through a legal case in New York”. It “urges the Government to share its experience of legislating on vulture funds with the US administration" and to "bring forward legislative proposals to prevent vulture funds ignoring international agreed debt restructuring for Argentina and Greece in UK courts and support the creation of a fair, independent and transparent arbitration mechanism for sovereign debt."</p>
<p>Daniel Ozarow of the Argentina Research Network in the United Kingdom, which also promoted the petition, said: “It is astonishing that under the international debt system’s existing rules, collective punishment can potentially be imposed upon millions of Argentines for the benefit of a handful of billionaire speculators. This is just the latest in a series of ideological assaults by global capitalism’s institutions upon those less powerful states that have dared to introduce economic models that deviate from neoliberalism’s hegemony.”</p>
<p>In addition, a petition signed-by more than 2,000 British people was handed to the Argentine Embassy in London, supporting Argentina’s right to refuse to pay vulture funds.</p>
<p>In 2010, the UK Parliament passed legislation to prevent vulture funds from seeking unfair profits in UK courts in cases against 40 so-called ‘Heavily Indebted Poor Countries’, primarily in sub-Saharan Africa.</p>
<p>* Read the Early Day Motion here: <a href="http://www.parliament.uk/edm/2013-14/666" title="http://www.parliament.uk/edm/2013-14/666">http://www.parliament.uk/edm/2013-14/666</a></p>
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Living EconomyNews BriefArgentinaindebted countriesjubilee debt campaignvulture fundsWorld NewsSat, 28 Jun 2014 05:14:48 +0000staff writers20603 at http://www.ekklesia.co.ukUK campaigners condemn 'vulture capital' court verdicthttp://www.ekklesia.co.uk/node/18890
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<p>UK campaigners have slammed a US court decision which they say allows Argentina to be ‘held to ransom’ by vulture funds.</p>
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<p>A US court has put rights of billionaire investors above the people of Argentina, say debt activists, slamming a decision for allowing the country to be ‘held to ransom’ by vulture funds. </p>
<p>The reaction from the UK-based Jubilee Debt Campaign came after Argentina lost its appeal in New York against ‘vulture funds’ NML Capital Ltd and Aurelius Capital. The judgement brings Argentina one step nearer to a default. </p>
<p>The New York appeals court upheld a ruling that Argentina must repay the vulture funds every time it repays its standard creditors, and forces banks processing such payments to comply with the order. It leaves Argentina with a choice between paying vulture funds which speculated on the country’s bankruptcy back in 2002 and which is forbidden by Argentine law, or triggering another default. </p>
<p>Any default will be put off until the US Supreme Court decides whether it will hear an appeal of the case. </p>
<p>Nick Dearden, Director of Jubilee Debt Campaign, said: “It cannot be right that this court has put the rights of a couple of billionaire speculators above the rights of millions of people in Argentina to enjoy a decent standard of living. A whole country is being held to ransom by these vulture funds.</p>
<p>“These funds never lent money to Argentina. They speculated on Argentina's crisis, buying debt very cheap in the hope that the country would go bankrupt, and then refusing to join the vast majority of Argentina's 'creditors' in negotiating a reduction in the value of their debt. </p>
<p>“The US Government and International Monetary Fund must take their share of the blame for this decision, as both pulled back from asking the Supreme Court to review the matter, sending a clear message that they were washing their hands of it. </p>
<p>“If countries want to protect their right and duty to represent their people they must stand up against this bullying,” Mr Dearden declared. </p>
<p>In 2001 Argentina defaulted on unaffordable debt payments. At the time the Argentinian people had experienced three years of recession and over half the population, 20 million people, were living below the poverty line. Much of the debt from this time was regarded as illegitimate by Argentina’s people, originating in the brutal dictatorship of the late 1970s and early 1980s, a period known as the 'dirty war' when 30,000 people were 'disappeared'</p>
<p>The Argentine government subsequently reached a deal with most creditors to pay the equivalent of 25-35 cents on every dollar owed, over several years. However some creditors refused to accept this deal, known as ‘holdouts’. These holdouts include vulture funds such as NML (a subsidiary of Elliot Associates), which are thought to have bought Argentinian debt at knock-down prices during the early 2000s debt crisis, and are now suing for exorbitant profits. Argentina is making debt payments to the creditors which accepted the deal, but not the holdouts.</p>
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Living EconomyPeace and NonviolencePeople and PowerNews BriefArgentinadebtdebt justice actionIMFjubilee debt campaignUS governmentvulture fundsWorld NewsSat, 24 Aug 2013 14:09:54 +0000agency reporter18890 at http://www.ekklesia.co.ukMethodists agree £10,000 grant for Argentina flood recoveryhttp://www.ekklesia.co.uk/node/18376
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<p>The Methodist Church has agreed a grant of £10,000 to assist urgent recovery work following last month's torrential flooding in Argentina.</p>
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<p>The Methodist Church has agreed a grant of £10,000 to assist urgent recovery work following last month's torrential flooding in Argentina.</p>
<p>The floods, which hit the cities of Buenos Aires and La Plata on 2 and 3 April, killed more than 50 people and left many homes inundated with up to two metres of water. Many thousands of families living in the poorest parts of both cities have been badly affected. The grant from the World Mission Fund has been sent to the Methodist Church in Argentina (IEMA), which has a strong presence in both cities.</p>
<p>IEMA Leader Bishop Frank de Nully Brown said: "The consequences of this disaster have affected the poorest families and those least able to help themselves. We thank God for the solidarity and the mutual love of our congregations that have allowed us to hold people who are in pain, despair and suffering, both the affected in our churches and our neighbours. This tragedy reminds us that we are vulnerable beyond our material securities. We continue to respond to the people living in the affected areas and those affected by the longer lasting trauma that it has produced."</p>
<p>IEMA's children's home in La Plata was severely affected by the floods. The home provides an extended social service to hundreds of families around it, and support for hundreds of street children whose lives have now been made more precarious by the floods.</p>
<p>The money from the World Mission Fund will be used to purchase furniture and equipment that has been lost and enable the immediate recovery of the services offered by the home.</p>
<p>"The Methodist Church in Britain and the Methodist Church in Argentina enjoy a quality relationship that enables us to speak to each other about our needs and our differences; that puts people first," added the Rev Thomas Quenet, World Church Partnership Coordinator. "In this case it was the initiative of the Methodist Church in Britain that suggested the request from the Church in Argentina. The people affected were the most vulnerable living in places they could not get away from. We were blessed to be able to respond urgently to the need."</p>
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Beliefs and ValuesNews BriefaidArgentinafloodingmethodist churchUK NewsThu, 09 May 2013 20:30:33 +0000agency reporter18376 at http://www.ekklesia.co.ukLatin American church leaders react to the new popehttp://www.ekklesia.co.uk/node/18179
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<p>The election of Cardinal Jorge Bergoglio of Argentina as Pope Francis has evoked diverse reactions from ecumenical leaders in the Latin America region</p>
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<p>Cardinal Jorge Bergoglio of Argentina, archbishop of Buenos Aires, has made history as the first pope of the Roman Catholic Church from Latin America, from the Jesuit order, and the first to adopt the name of Francis, inspired by St Francis of Assisi. His election has evoked diverse reactions from ecumenical leaders in the Latin America region.</p>
<p>The moderator of the World Council of Churches (WCC) Central Committee, Rev Dr Walter Altmann, a Lutheran pastor from Brazil, identified the election of Pope Francis I as a “transition in Christianity”.</p>
<p>"In recent decades, there has been a radical shift to the South in world Christianity. The election of an Argentinean pope reflects this new reality, despite that most cardinals come from the North," said Altmann.</p>
<p>"My expectation is that his mandate can be marked by intense and deep ecumenical dialogue and cooperation," he added.</p>
<p>In Buenos Aires, Pope Francis I led one of the largest dioceses in the 1990s, which demonstrated concern towards social justice issues.</p>
<p>The Rev Romi Márcia Bencke, General Secretary of the National Council of Christian Churches of Brazil (CONIC), pointed to the significance of Latin America's Christian history, and its connections with the new pope.</p>
<p>"The path of the Catholics in our continent was marked by the rich experience of liberation theology. Particularly in Brazil we experience a rich ecumenical coexistence with the Roman Catholic Church, which is one of the co-founders of CONIC. Hopefully the new pope will continue to strengthen our ecumenical journey," said Bencke.</p>
<p>"The choice of Bergoglio confirms the direction that the Roman Catholic Church had already taken in the times of Benedict XVI," commented Bishop Frank de Nully Brown of the Evangelical Methodist Church of Argentina.</p>
<p>For pastor Nestor Paulo Friedrich, president of the Evangelical Church of the Lutheran Confession in Brazil (IECLB), "this election could mean surprise, change and opportunity." Reiterating the ecumenical commitment of his church, Friedrich expressed hope that the new pope will value dialogue.</p>
<p>The Lutheran leader said he prayed that the election of Pope Francis I would "contribute to the development of the Roman Catholic community and the world, working and encouraging renewed ecumenical partnerships, and strengthening dialogue towards common witness to the vibrant gospel of Jesus Christ."</p>
<p>The reactions of Argentineans about the election are rather divided. On one hand, Bergoglio is accused of not speaking out against human rights violations at the time of the military dictatorship, while many proclaim that the bishop helped hundreds of people to escape prison and death during that same period.</p>
<p>Pope Francis I indicated the directions he will be taking during his papacy in a speech addressing the crowd in St Peter's Square on 13 March 2013. </p>
<p>“And now let us begin this journey, the bishop and people, this journey of the Church of Rome which presides in charity over all the churches, a journey of brotherhood in love, of mutual trust. Let us always pray for one another. Let us pray for the whole world that there might be a great sense of brotherhood,” said the new pope. </p>
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Beliefs and ValuesNews BriefArgentinaecumenicalecumenismlatin americaLatin American Council of ChurchesPopepope francisWorld NewsFri, 15 Mar 2013 23:40:22 +0000agency reporter18179 at http://www.ekklesia.co.ukAnalysis: What can we expect from Pope Francis I?http://www.ekklesia.co.uk/node/18166
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<h1 class="title">Analysis: What can we expect from Pope Francis I?</h1>
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<p><a href="http://www.ekklesia.co.uk/node/18166" target="_blank">read more</a></p>Beliefs and ValuesNews BriefArgentinaCardinalcardinalscatholic churchlatin americapapal conclavePopepope francisRoman Catholicroman catholic churchBlogWed, 13 Mar 2013 22:00:38 +0000Simon Barrow18166 at http://www.ekklesia.co.ukA 'religious pope': what difference it could make for the Catholic Churchhttp://www.ekklesia.co.uk/node/18167
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<h1 class="title">A &#039;religious pope&#039;: what difference it could make for the Catholic Church</h1>
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<p><a href="http://www.ekklesia.co.uk/node/18167" target="_blank">read more</a></p>Beliefs and ValuesNews BriefArgentinaCardinalcardinalscatholic churchlatin americapapal conclavePopepope francisRoman Catholicroman catholic churchBlogWed, 13 Mar 2013 21:24:36 +0000Simon Barrow18167 at http://www.ekklesia.co.ukPope Francis, from Argentina, is introduced to the worldhttp://www.ekklesia.co.uk/node/18165
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<p>The man who will be the next leader of the world's 1.2 billion Roman Catholics is Jorge Mario Bergoglio SJ, Cardinal-Archbishop of Buenos Aires.</p>
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<p>After white smoke emerged from the roof of the Sistine Chapel in Rome this evening, the world waited for the name of the man who will be the next leader of the world's 1.2 billion Roman Catholics. </p>
<p>To the surprise of the gathered crowd and almost all commentators and Vatican-watchers, the new pope, who takes the name Francis, is Jorge Mario Bergoglio, SJ, Cardinal-Archbishop of Buenos Aires, Argentina.</p>
<p>Aged 76, the new pontiff is regarded as a humble and pastoral man, with conservative views on bioethical issues and far more progressive ones on other social questions. He has been an Archbishop since 1998, and was elevated to the cardinalate in 2001.</p>
<p>It is believed that he received the second highest number of votes when Cardinal Josef Ratzinger became Pope Benedict XVI. </p>
<p>The new Pope has emphasised the importance of spirituality throughout his ministry, and has adopted a very modest personal lifestyle - including travelling by public transport, living in a small apartment, and cooking his own meals. </p>
<p>He has voiced support for the poor, as well as publicly challenging neoliberal free-market policies. However, he has been criticized in some quarters for not speaking out robustly enough against the previous Argentinian military dictatorship. </p>
<p>Pope Francis has opposed same-sex relationships and has upheld the Church's teaching against the use of contraception, though in 2001 he visited a hospice, where he washed and kissed the feet of twelve AIDS patients.</p>
<p>The name Francis resonates with Francis Xavier, a fellow Jesuit, and also, for many, with Francis of Assisi. </p>
<p>He is not a 'Vatican insider', but is said to be wise and shrewd, as well as honest, in his dealings. He also has diplomatic experience and knows how things work in Rome. </p>
<p>Crowds in St Peter's Square cheered, bells rang out, and reporters scurried to their positions as the smoke appeared from the chimney of the Sistine Chapel earlier this evening (13 March 2013).</p>
<p>The first person to go out onto the balcony at St Peter's was not the new pope, but Cardinal Jean-Louis Tauran. He announced <em>Habemus Papam</em> ("We have a Pope") and the Latin first name of the chosen man.</p>
<p>Pope Francis looked unemotional as he first stood before the cheering crowds, but then smiled and seemed relaxed when he spoke, after a simple personal greeting, "Buonasera". </p>
<p>Before he gave his traditional blessing on the crowd gathered in St Peter's Square, the new pope said, "Can I ask a favour of you?", and proceeded to request silent prayers from the assembly before he prayed himself. </p>
<p>The 115 cardinals from 67 countries and six continents have been in isolation since the afternoon of Tuesday 12 March 2013, and held four inconclusive votes before electing a Pope on the fifth ballot. </p>
<p>This is seen as a quick decision, strengthening speculation that the chosen man would be Cardinal Scolari of Milan. Cardinal Bergoglio's name took most by surprise. </p>
<p>The new incumbent will replace Benedict XVI, now pope emeritus, who stepped down at the end of February this year, saying that he was no longer physically or spiritually strong enough to lead the global Catholic Church.</p>
<p>Pope Francis is 76 years old, only a year younger than Benedict was when elected. But transitional papacies are not always without moment, as Pope John XXIII, who launched the Second Vatican Council, illustrated. </p>
<p>Chris Bain, the CEO of the Catholic aid agency CAFOD was among the first to welcome a pontiff from the global South in an interview from Rome this evening with the BBC. </p>
<p>Pope Francis I's inaugural Mass will be on 19 March 2013. </p>
<p><em>Update will follow.</em></p>
<p>* 'What the cardinals believe'. Find out, and contribute, here: <a href="http://www.cardinalrating.com/" title="http://www.cardinalrating.com/">http://www.cardinalrating.com/</a></p>
<p>* Papal #conclave: news, comment, background and analysis from Ekklesia: <a href="http://www.ekklesia.co.uk/PapalConclave" title="http://www.ekklesia.co.uk/PapalConclave">http://www.ekklesia.co.uk/PapalConclave</a></p>
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Beliefs and ValuesNews BriefArgentinaCardinalcardinalscatholic churchjournalismlatin americamediapapal conclavePopepope francisRoman Catholicroman catholic churchWorld NewsWed, 13 Mar 2013 18:44:09 +0000staff writers18165 at http://www.ekklesia.co.ukArgentine and British protesters resist 'vulture fund' debt claimshttp://www.ekklesia.co.uk/node/18098
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<p>British and Argentine campaigners have staged a noisy pots and pans protest in support of Argentina’s right not to pay ‘vulture funds’ chasing huge profits.</p>
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<p>British and Argentine campaigners have staged a noisy pots and pans protest outside the offices of Elliot Associates in London, in support of Argentina’s right not to pay the ‘vulture funds’ still chasing huge profits from its late-2001 debt default.</p>
<p>The demonstraation late last week came on the eve of an appeal brought by Argentina against a verdict in October 2012 which could force the South American country to default on its debts once more, and could make sovereign debt crises, including in Europe, much harder to resolve in future.</p>
<p>The protest is part of a campaign organised by the British NGO, Jubilee Debt Campaign in collaboration with the Argentinian organisation Dialogue 2000 - Jubilee South Argentina. </p>
<p>In January 2013 the campaigners placed an advert in the Buenos Aires Herald, welcoming home the Libertad, an Argentinian navy vessel held for three months in a Ghanaian port over the disputed debts. Sister group Jubilee USA also joined the 27 February pots and pans protest.</p>
<p>Argentina is being sued by NML, a subsidiary of vulture fund Elliot Associates. NML bought up Argentine debt cheaply when the country was suffering from a debt crisis at the turn of millennium. In late-2001 Argentina defaulted on its debt payments, which had become unaffordable at the equivalent of 45 per cent of the country’s exports.</p>
<p>Argentina later agreed a deal with most of its creditors to pay 25-35 cents in every dollar that was owed. However, NML have refused to take part in this deal, demanding 100 per cent repayment and exorbitant profits. </p>
<p>In October 2012, the New York court ruled that when Argentina makes payments to the creditors who agreed to the debt deal, it also has to make payment to NML. With repayments to vulture funds illegal under Argentinian law, this may force Argentina to default on its debt payments to all creditors.</p>
<p>Nick Dearden, Director of Jubilee Debt Campaign, said: “We believe there is no ethical justification for Argentina making this payment. These vulture funds never lent money to Argentina. The debt that NML gambled on was bought cheaply, representing the extreme risk they were taking. They took that risk in the hope Argentina would pay them off rather than fight, and they lost.”</p>
<p>When Argentina defaulted in 2001, its people had experienced three years of recession and over half the population - 20 million people - were living below the poverty line. </p>
<p>Much of the debt from this time was regarded as illegitimate by Argentina’s people, originating in the brutal dictatorship of the late 1970s and early 1980s, a period known as the 'dirty war' when 30,000 people were 'disappeared'.</p>
<p>Since defaulting, Argentina’s economy has grown, by an average of 5.9% a year between 2002-2011. Poverty, which grew rapidly through the debt crisis of the 1990s and the turn-of-the-millennium, has now fallen rapidly. In 2002, over 20 per cent of the population lived on less than $2 a day. By 2010 it had fallen to less than 2%.</p>
<p>Mr Dearden added: “Argentina’s recovery since 2002 is down to the fact that the majority of its creditors accepted part payment of their unpayable debts, rather than holding out for full repayment. If the vulture funds are allowed to extract their pound of flesh from Argentina today, we will see a proliferation of vulture funds in Europe tomorrow.”</p>
<p>* Jubilee Debt Campaign: <a href="http://www.jubileedebtcampaign.org.uk/" title="http://www.jubileedebtcampaign.org.uk/">http://www.jubileedebtcampaign.org.uk/</a></p>
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Living EconomyNews BriefArgentinadebtjubilee debt campaignWorld NewsSun, 03 Mar 2013 13:07:55 +0000staff writers18098 at http://www.ekklesia.co.ukArgentine 'debt ship' ordered to be released from Ghanahttp://www.ekklesia.co.uk/node/17628
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<p>A tribunal in Hamburg has decided that the Argentine navy ship seized in Ghana, the ARA Libertad, should be released back to the South American country.</p>
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<p>A tribunal in Hamburg has decided that the Argentine navy ship seized in Ghana, the ARA Libertad, should be released back to the South American country. </p>
<p>The ARA Libertad was seized after a vulture fund, NML Capital, brought a case in Ghana to claim ownership of the boat. </p>
<p>NML Capital are pursuing Argentina for exorbitant profit on a debt they bought cheaply when Argentina was in the midst of a debt crisis in the early 2000s. Today’s decision comes from the International Tribunal for the Law of the Sea. </p>
<p>Campaigners in Argentina are calling for a full public debt audit to assess which of Argentina's remaining debts are illegitimate.</p>
<p>Nick Dearden, Director of Jubilee Debt Campaign, said: "We are delighted that Argentina has won this case. It is a disgrace that a group of speculators can seize the property of a sovereign nation in this way and points to the need for a fundamental change in the international debt system. Hopefully the ARA Libertad will now be promptly released."</p>
<p>He added: "Argentina is still facing a case in the United States in which the supposed 'rights' of these vulture funds will be put far ahead the needs and aspirations of Argentina's people. We must stop these funds profiteering from economic crises, wherever it takes place. If we don't, then what is happening to Argentina today will be happening to Greece and other European countries in years to come.”</p>
<p>In 2001 Argentina defaulted on unaffordable debt payments. At the time the Argentinian people had experienced three years of recession and over half the population, 20 million people, were living below the poverty line. </p>
<p>Much of the debt from this time was regarded as illegitimate by Argentina’s people, originating in the brutal dictatorship of the late 1970s and early 1980s, a period known as the 'dirty war' when 30,000 people were 'disappeared'.</p>
<p>The Argentine government subsequently reached a deal with most creditors to pay the equivalent of 25-35 cents on every dollar owed, over several years. However some creditors refused to accept this deal, known as ‘holdouts’. </p>
<p>These holdouts include vulture funds such as Elliot Associates and their subsidiary NML Capital, which are thought to have bought Argentinian debt at knock-down prices during the early 2000s debt crisis, and are now suing for exorbitant profits. Argentina is making debt payments to the creditors which accepted the deal, but not the holdouts.</p>
<p>In a separate case in New York, a judge has ruled that every time the Argentinian government makes debt payments to any creditor, it must also make payments to the holdouts.</p>
<p>While the New York case is awaiting further clarifications and appeals, it means the Argentinian government could be faced with a choice of making unjust debt payments to vulture funds, or being forced to default on its payments to all creditors. </p>
<p>* Jubilee Debt Campaign: jubileedebtcampaign.org.uk</p>
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Living EconomyPeace and NonviolenceNews BriefArgentinaghanajubilee debt campaignlaw of the seaWorld NewsSat, 15 Dec 2012 23:51:44 +0000agency reporter17628 at http://www.ekklesia.co.ukChurch NGOs present alternative global economy plan to Argentinahttp://www.ekklesia.co.uk/node/17297
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<p>The 'Sao Paulo Statement: International Financial Transformation for the Economy of Life' has been prepared by a variety of ecumenical organisations.</p>
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<p>Despite being a wealthy country at one time, Argentina has more recently faced recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt and capital flight. </p>
<p>The major downturn in Argentina’s economy was from 1999 to 2000, and is still causing a feeling of uncertainty among its citizens. </p>
<p>In the light of these challenges, a recently developed ecumenical statement about ethical principles for a new global economic system was presented to the Argentinean government officials on 27 October 2012 in Buenos Aires.</p>
<p>The 'Sao Paulo Statement: International Financial Transformation for the Economy of Life' was presented to officials by the delegates representing Latin American ecumenical organisations and international bodies.</p>
<p>The statement is a common effort produced by the participants of a conference promoted by the World Communion of Reformed Churches, the World Council of Churches and the Council for World Mission, held from 29 September to 5 October, in Guarulhos, Brazil.</p>
<p>The delegation was received by Ambassador Juan Landaburu, secretary for religious affairs in the ministry of external relations of Argentina, and Dr Andrea De Vita, director of the national record of religious organisations.</p>
<p>When handing the statement to the Ambassador, Dario Barolin, from the Alliance of Presbyterian and Reformed Churches in Latin America (AIPRAL) and member of the drafting group of the statement, stressed the strategic importance of the conference in Guarulhos.</p>
<p>“Witten by theologians and economists, the statement mentions over-consumption and greed as key factors to consider in search for a fairer distribution of global resources,” said Barolin. He pointed out the need for governments to make decisions for a “global financial system that would serve life”.</p>
<p>"Learning more about your advocacy and development work comforts us," said Ambassador Landaburu, who expressed his commitment to share the document with other government sectors.</p>
<p>The meeting also served as an opportunity for representatives of the Latin American Council of Churches (CLAI) and the WCC to speak about the themes and preparations of their upcoming assemblies.</p>
<p>CLAI’s president, Bishop Julio Murray from Panama, informed the national authorities about the process of dialogue about sexual and reproductive rights that is taking place in eleven countries and will be presented during the CLAI Assembly in February of 2013, in La Habana, Cuba, under the theme “Affirming ecumenism of concrete gestures”.</p>
<p>Dr Marcelo Schneider, WCC’s communications liaison for Latin America, praised the initiatives taking place in several regions, addressing the theme of the WCC’s 10th Assembly “God of life, lead us to justice and peace”.</p>
<p>For Schneider, the theme of the WCC Assembly, which will be held in Busan, Republic of Korea, 30 October to 8 November 2013, focuses on issues historically pertinent for the churches in Latin America.</p>
<p>“Although the Assembly will pay considerable attention to the political division in Koreas, we want to tell stories of people from all over the world, who are advocating for justice and peace,” he said.</p>
<p>Besides Barolin, Murray and Schneider, the delegation was formed by Joyce Torres, General Secretary of the Council of Methodist Churches of Latin America, Humberto Shikiya, executive director of ACT Alliance, member organisation of the Regional Ecumenical Centre for Assistance and Service (CREAS); Marcela Gabioud, Latin American coordinator of the World Association for Christian Communication, Gabriela Mulder, president of the Alliance of Presbyterian and Reformed Churches in Latin America (AIPRAL); Daniel Favaro and Claudia Florentin, from the Latin American and Caribbean Agency of Communication (ALC).</p>
<p><em>This article written by Claudia Florentin for the Agencia Latinoamericana &amp; Caribena de Comunicacion.</em></p>
<p>[With acknowledgements to ENInews. <a href="http://www.eni.ch/">ENInews</a>, formerly Ecumenical News International, is jointly sponsored by the World Council of Churches, the Lutheran World Federation, the World Communion of Reformed Churches and the Conference of European Churches.]</p>
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Living EconomyNews Briefalternative economicsArgentinaglobal economylatin americasouth americawccworld council of churchesWorld NewsSat, 03 Nov 2012 23:50:58 +0000agency reporter17297 at http://www.ekklesia.co.ukA day to speak up about dictator debthttp://www.ekklesia.co.uk/node/16524
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<h1 class="title">A day to speak up about dictator debt</h1>
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<p><a href="http://www.ekklesia.co.uk/node/16524" target="_blank">read more</a></p>Living Economyactive nonviolenceactivismArgentinaarms tradecampaign against arms tradedebtdictator debtEgyptfalklandsFalklands Warjubilee debt campaignliberal democratsUK Export FinanceBlogWed, 11 Apr 2012 14:50:38 +0000Symon Hill16524 at http://www.ekklesia.co.ukArgentina still owes UK government for Falklands arms saleshttp://www.ekklesia.co.uk/node/16515
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<p>Argentina still owes debts to the UK government, following arms sales to the Argentine junta in the years leading up to the Falklands War.</p>
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<p>Economic justice group Jubilee Debt Campaign has uncovered documents which show that Argentina still owes debts to the UK government, following arms sales to the Argentine junta in the years leading up to the Falklands War. </p>
<p>The archived information includes a letter from then Foreign Secretary David Owen, which shows the British government was keenly aware of the odious nature of the Argentina regime - describing it as ‘worse’ than Pinochet’s Chile. It also acknowledged that conflict over the Falkland Islands was possible. </p>
<p>Argentina’s £45 million restructured debt includes loans for two Type 42 Destroyers and two Lynx helicopter which were used in the invasion of the Falklands. </p>
<p>The debt overhang left by Argentina’s military junta was not cancelled, despite a court case in 2000 finding that loans to Argentina under the dictatorship were part of "a damaging economic policy that forced on its knees through various methods ... and which tended to benefit and support private companies - national and foreign - to the detriment of society". These loans ultimately helped fuel Argentina’s economic crisis in the early 2000s. </p>
<p>The loans were run up by a government department called the Export Credits Guarantee Department - which has recently changed its name to UK Export Finance. </p>
<p>The Liberal Democrats have a policy to audit all the debt owed to UK Export Finance and cancel those found to have come from “reckless loans to dictators known not to be committed to spending the funds on development”. </p>
<p>Nick Dearden, Director of Jubilee Debt Campaign said: "Lending the military junta money to buy British weapons was illegitimate and odious. The newly uncovered documents show that then Foreign Secretary David Owen knew the UK government was lending money for arms to an abhorrent regime. The Liberal Democrats must stick to their pledge to rule invalid loans recklessly given to dictators.</p>
<p>"This is not the only occasion in which debt has been run up supplying arms to a regime which British soldiers would soon be fighting. The anniversary of the Falklands War should force the government to question the way it does business. Business Minister Vince Cable must implement Liberal Democrat policy and stop subsidising war through the backing of loans to other governments to buy weapons." </p>
<p><a href="http://www.jubileedebtcampaign.org.uk/download.php?id=1081">A briefing on Argentina's debt to the UK and the arms sales can be found here</a></p>
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Peace and NonviolenceNews BriefArgentinaarms salesfalklandsUK NewsTue, 10 Apr 2012 08:34:19 +0000staff writers16515 at http://www.ekklesia.co.ukArgentine Methodists send hopes for peace to British counterpartshttp://www.ekklesia.co.uk/node/16236
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<p>The Argentine Methodist Church has sent a letter to the Methodist Church in Britain, saying it wants their governments to resolve Falkalnds issues peacefully.</p>
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<p>Amid renewed tensions over the Falkland Islands, the Argentinian Methodist Church has sent a letter to the Methodist Church in Britain, expressing its desire for their governments to resolve their issues peacefully.</p>
<p>"A war is always a human failure in the light of God's project that we share his creation and that we all enjoy the resources that He has given us," wrote Bishop Frank de Nully Brown, according to the Latin America and Caribbean Communication Agency.</p>
<p>"The issue of the Malvinas Islands is for the Argentinean people and our church, an extremely sensitive and delicate one, given the claim that our country has made for the sovereignty of the islands for many years," the letter said.</p>
<p>The islands, sitting 250 nautical miles (460 km) off the Argentine coast, are under British rule but have been claimed by both nations. On 2 April 1982, Argentinean forces invaded the islands. Britain responded in kind, taking back the territory in two months. More than 1,000 troops and civilians lost their lives in the conflict.</p>
<p>Recently, the two nations have once again begun lobbing heated rhetoric at each other over the ownership of the islands, which have rich fishing grounds and are thought to posses significant offshore oil reserves.</p>
<p>Brown stressed his letter is written in the spirit of the longstanding relationship of fraternity and companionship with the church of Great Britain. "We should persevere in continuing to grow in the unity of Christ's body as the Apostle Paul says in his letter to the Ephesians," he said.</p>
<p>British Prime Minister David Cameron and Argentine president Cristina Fernandez recently accused each other of "colonial" behavior over the islands, London newspapers have reported.</p>
<p>Great Britain announced 1 February it was sending one of its newest destroyers to the area - with personnel including Prince William, an RAF helicopter pilot - for six weeks. Argentina is protesting, calling the deployment near the 30th anniversary of the war a "provocative" act and likening the prince to a "conquistador," The Telegraph newspaper said.</p>
<p>In response, Argentina and other members of the Mercosur trade bloc, which includes Brazil, Uruguay and Venezuela, agreed to close ports throughout the region to ships flying the flag of the disputed islands.</p>
<p>[With acknowledgements to ENInews. <a href="http://www.eni.ch/">ENInews</a>, formerly Ecumenical News International, is jointly sponsored by the World Council of Churches, the Lutheran World Federation, the World Communion of Reformed Churches and the Conference of European Churches.]</p>
<p>[Ekk/3]</p>
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Peace and NonviolenceNews BriefArgentinafalklandsmethodist churchPeaceWorld NewsMon, 06 Feb 2012 07:07:07 +0000ENInews16236 at http://www.ekklesia.co.ukArgentinians hold a 'month of the Bible'http://www.ekklesia.co.uk/node/15394
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<p>In Argentina, as in many Latin American countries, September is a month to celebrate the Bible. Churches coordinate lectures, workshops and conferences for youth.</p>
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<p>In Argentina, as in many Latin American countries, September is a month to celebrate the Bible. Churches coordinate lectures, workshops and conferences for young people, reports the World Council of Churches (WCC).</p>
<p>"Spending a month each year focusing on the Bible helps us to affirm the Word as an essential nutrient to our faith and our commitment to life and justice," said Pastor Gerardo Oberman, from the Reformed Churches of Argentina associated with the Evangelical Church of the River Plate (IERP), the WCC says.</p>
<p>"The overall experience has different local nuances, but we are also motivated by the spirit of the Reformation in which one of the main slogans was the Sola Scriptura -- that is, [salvation by] Scripture alone," said Oberman.</p>
<p>September activities help believers "remember the centrality of the word of God" and highlights the work of Bible societies, said Bishop Nully Frank Brown of the Evangelical Methodist Church of Argentina.</p>
<p>The Christian Alliance of Evangelical Churches of Argentina is inviting their members to fast and pray for 40 days, seeing the time as an opportunity to reflect on the Bible and the difference it can make in the life of the country as well.</p>
<p>In September, the Roman Catholic Church celebrates Saint Jerome, who translated the Bible from Greek and Hebrew into Latin. It was also during this month, in the 16th century, that the first Spanish translation of the Bible, la Biblia del Oso, appeared.</p>
<p>The Geneva-based WCC is an ecumenical fellowship that brings together 349 Protestant, Orthodox, Anglican and other churches representing more than 560 million Christians in more than 110 countries. It works cooperatively with the Roman Catholic Church.</p>
<p>[With acknowledgements to ENInews. <a href="http://www.eni.ch/">ENInews</a>, formerly Ecumenical News International, is jointly sponsored by the World Council of Churches, the Lutheran World Federation, the World Communion of Reformed Churches and the Conference of European Churches.]</p>
<p>[Ekk/3]</p>
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Beliefs and ValuesEqualityNews BriefArgentinabiblebible believingbiblical interpretationscripturewccworld council of churchesCulture and ReviewFri, 16 Sep 2011 23:35:08 +0000ENInews15394 at http://www.ekklesia.co.uk